Cotton futures posted modest gains of 5 to 15 points on Tuesday. Crude oil futures were down 41 cents at the close. The US dollar index was weaker, down $0.475 to $97.095.
Weekly USDA Crop Progress data indicated 75% of the US cotton crop was squaring as of July 20, with 33% setting bolls, matching the average maturity pace. Condition ratings across the Belt improved 3% to 57% gd/ex, with the Brugler500 index up 8 points to 347.
The Seam showed sales of 95 bales on Monday, with an average price of 65 cents/lb. The world focused Cotlook A Index was down 5 cents at $79.45 on July 21. ICE cotton stocks were steady on 7/18, with the certified stocks level at 22,337 bales. USDA’s Adjusted World Price (AWP) was up a tick on Thursday at 54.72 cents/lb. It is in effect through this coming Thursday.
Oct 25 Cotton closed at 66.59, up 5 points,
Dec 25 Cotton closed at 68.25, up 15 points,
Mar 26 Cotton closed at 69.61, up 15 points
